Price increases have driven a jump in third-quarter revenue at Dairy Crest, the UK’s largest dairy producer.
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The company behind brands including Cathedral City cheese and Utterly Butterly said underlying sales during the three months to 31 December.
“This is the result of both price increases implemented in the autumn of 2007, which reflected higher raw material costs, and the continued good performance of a number of our key brands,” Dairy Crest told the London Stock Exchange.
In December, Dairy Crest, alongside other processors and retailers, was found guilty of fixing the price of dairy products in 2002 and 2003. Today (29 January), the company said its GBP9.4m (US$x) fine would be treated as an exceptional item in its end of year accounts.
The company will issue its full-year results on 20 May.
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By GlobalData
